The mobile phone company MTN Cameroon is trying to save its assets after they were frozen by the courts at the request of a Cameroonian businessman, Ahmadou Baba Danpullo, who himself is in difficulty with his investments in South Africa. A case of “big money”, estimated at 259 billion CFA francs and in which MTN presents itself as a collateral victim.
It is not yet the battle for survival but at MTN Cameroon the determination is foolproof. The mobile telephony giant, which is protesting against the freezing of its bank accounts, maintains its lack of understanding of the court orders issued in favor of an economic operator, Ahmadou Baba Danpullo, with whom the company declares that it has no connection. business or commercial.
Master Barnabé Nekui, a lawyer for MTN Cameroon, “Neither yesterday nor today, ever Mr. Danpullo, even less the group of his companies based in South Africa have dealt with MTN in any way whatsoever”. The sums at stake are considerable, “The amounts at stake are 259 billion CFA francs. The seizures carried out following these orders which have been issued for the benefit of Mr. Danpullo to date are of the order of 150 billion CFA francs, carried out, declared, and confined”.
The Issue of Securing Funds
MTN Cameroon protests that the law of 2008 appoints the Cash deposit and consignment as the only entity on the Republic of Cameroon’s territory that is allowed to receive deposits and consignments to the escrow. Furthermore, article 6 of the same law forbids any administration or jurisdiction from appointing any other entity as a sequestration.